| Page | |
|---|---|
| Trustees' Report | 1to4 |
| Independent Examiner's Report |
|
| Stab.ment ofFinancial Activities | |
| abatement ofFinancial Position |
|
| %atement ofCash Flows | |
| Notes tothe Statement ofCash Flows | |
| Notes to the Financial Statements | 10 to 16 |
| 31/8/23 | 31/8/22 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| funds | funds | funds | funds | |||||
| Notes | 6 | 6 | 6 | |||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations | and legacies | 2 | 367,002 | 15,640 | 382,642 | 479,354 | ||
| Charitable | activities | |||||||
| Education | 509,109 | 509,109 | 448,169 | |||||
| Other income | 10,000 | 10,000 | 5,095 | |||||
| Total | 886,111 | 15,640 | 901,751 | 932,618 | ||||
| EXPENDITURE ON | ||||||||
| Charitable | activities | 4 | ||||||
| Education | 720,998 | 45,290 | 766,288 | 671,395 | ||||
| NET INCOME/(EXPENDITURE) | 165,113 | (29,650) | 135,463 | 261,223 | ||||
| RECONCILIATION | OF FUNDS | |||||||
| Total funds | brought | forward | 1,402,015 | 53,300 | 1,455,315 | 1,194,092 | ||
| TOTAL FUNDS CARRIED FORWARD | 1,567,128 | 23,650 | 1,590,778 | 1,455,315 |
| 31/8/23 | 31/8/22 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | E | K | |||
| FIXEDASSETS | |||||
| Tangible assets | 9 | 1,764,149 | 1,764,149 | 1,632,699 | |
| CURRENT ASSETS | |||||
| Debtors | 10 | 98,331 | 98,331 | 76,512 | |
| Cash at bank and in hand | 334,240 | 23,650 | 357,890 | 595,894 | |
| 432,571 | 23,650 | 456,221 | 672,406 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
11 | (629,592) | (629,592) | (849,790) | |
| NET CURRENT ASSETS | (197,021) | 23,650 | (173,371) | (177,384) | |
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 1,567,128 | 23,650 | 1,590,778 | 1,455,315 | |
| NET ASSETS | 1,567,128 | 23,650 | 1,590,778 | 1,455,315 | |
| FUNDS | 13 | ||||
| Unresb icted funds | 1,567,128 | 1,402,015 | |||
| Restricted funds | 23,650 | 53,300 | |||
| TOTAL FUNDS | 1,590,778 | 1,455,315 |
| 31/8/23 | 31/8/22 | |||
|---|---|---|---|---|
| Notes | K | E | ||
| Cash flows from operating | activities | |||
| Cash generated from operations |
1 | 199,791 | 378,331 | |
| Net cash provided by operating activities |
199,791 | 378,331 | ||
| Cash flows from investing | activities | |||
| Purchase oftangible fixed assets | (175,193) | (566,957) | ||
| Net cash used in investing acbvities |
(175,193) | (566,957) | ||
| Cash flows from financing | activities | |||
| New loans in year | 9,000 | 557,101 | ||
| Loan repayments in the year |
(121,000) | |||
| Loan converted to donations | (150,602) | |||
| Net cash (used in)/provided | by financing | activities | (262,602) | 557,101 |
| Change in cash and cash equivalents |
||||
| in the reporting period |
(238,004) | 368,475 | ||
| Cash and cash equivalents | at the | |||
| beginning ofthe reporting |
period | 595,894 | 227,419 | |
| Cash and cash equivalents | at the end | |||
| ofthe reporting period |
357,890 | 595,894 |
| RECONCILIATION | OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES | OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES | OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES | OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES | OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES | OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES | OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES | |
|---|---|---|---|---|---|---|---|---|
| 31/8/23 | 31/8/22 | |||||||
| E | E | |||||||
| Net income forthe | reporting | period (as per the abatement | of | |||||
| Financial Activities) Adjustments for. |
261,223 | |||||||
| Depreciation charges |
43,743 | 41,016 | ||||||
| (Increase)/decrease | in | debtors | (21,819) | 50,558 | ||||
| Increase in creditors |
42,404 | 25,534 | ||||||
| Net cash provided | by | operations | 199,791 | 378,331 | ||||
| 2. | ANALYSIS OF CHANGES | IN | NET DEBT | |||||
| At1.9.22 | Cash flow | At31.8.23 | ||||||
| E | E | E | ||||||
| Net cash | ||||||||
| Cash at bank and in | hand | 595,894 | (238,004) | 357,890 | ||||
| 595,894 | (238,004) | 357,890 | ||||||
| Debt | ||||||||
| Debts falling due within | 1 year | (661,602) | 262,602 | (399,000) | ||||
| (661,602) | 262,602 | (399,000) | ||||||
| (65,708) | 24,598 | (41,110) |
| DONATIONS | AND LEGACIES | ||
|---|---|---|---|
| 31/8/23 | 31/8/22 | ||
| 6 | 6 | ||
| Donations | 361,965 | 467,822 | |
| Gift aid | 20,677 | 11,532 | |
| 382,642 | 479,354 | ||
| INCOME FROM CHARITABLE ACTIVITIES | |||
| 31/8/23 | 31/8/22 | ||
| Activity | K | ||
| Fees | Education | 509,109 | 448,169 |
| STAFF COSTS | ||
|---|---|---|
| 31/8/23 | 31/8/22 | |
| 6 | 6 | |
| Wages and salaries | 479,925 | 442,279 |
| Social security costs | 14,664 | 11,587 |
| Other pension costs | 4,077 | 3,785 |
| 457,651 |
| The average monthly |
The average monthly |
The average monthly |
number of | employees | employees | during the year | was as follows: | ||
|---|---|---|---|---|---|---|---|---|---|
| 31IS/23 | 31IS/22 | ||||||||
| Teaching staff | 39 | 39 | |||||||
| Administration | staff | 3 | 3 | ||||||
| 42 | 42 | ||||||||
| No employees | received emoluments | in excess of660,000. | |||||||
| COMPARATIVES FOR THE STATEMENT | OF FINANCIAL | ACTIVITIES | |||||||
| Unrestricted | Restricted | Total | |||||||
| funds | funds | funds | |||||||
| E | E | E | |||||||
| INCOME AND | ENDOWMENTS | FROM | |||||||
| Donations and |
legacies | 420,094 | 59,260 | 479,354 | |||||
| Charitable activities |
|||||||||
| Education | 448,169 | 448,169 | |||||||
| Other income | 5,095 | 5,095 | |||||||
| Total | 873,358 | 59,260 | 932,618 | ||||||
| EXPENDITURE ON | |||||||||
| Charitable activities | |||||||||
| Education | 665,435 | 5,960 | 671.395 | ||||||
| NET INCOME | 207,923 | 53,300 | 261,223 | ||||||
| RECONCILIATION | OF FUNDS | ||||||||
| Total funds brought | forward | 1,194,092 | 1,194,092 | ||||||
| TOTAL FUNDS CARRIED FORWARD | 1,402,015 | 53,300 | 1,455,315 |
| 9. | TANGIBLE FIXEDASSETS | ||||
|---|---|---|---|---|---|
| Equipment, | |||||
| Freehold | Fixtures | Motor | |||
| property f |
8fittings f |
vehicles f |
Totals f |
||
| COST | |||||
| At 1stSeptember 2022 Additions |
1,805,476 175,193 |
87,680 | 1,500 | 1,894,656 175,193 |
|
| At 31stAugust 2023 | 1,980,669 | 87,680 | 1,500 | 2,069,849 | |
| DEPRECIATION | |||||
| At 1stSeptember 2022 | 181,062 | 80,670 | 225 | 261,957 | |
| Charge foryear | 40,713 | 2,805 | 225 | 43,743 | |
| At 31stAugust 2023 | 221,775 | 83,475 | 450 | 305,700 | |
| NET BOOK VALUE | |||||
| At 31stAugust 2023 | 1,758,894 | 4,205 | 1,050 | 1,764,149 | |
| At31stAugust 2022 | 1,624,414 | 7,010 | 1,275 | 1,632,699 | |
| 10. | DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31/8/23 f |
31/8/22 f |
||||
| Trade debtors | 55,160 | 49,034 | |||
| Prepayments and accrued income |
43,171 | 27,476 | |||
| 98,331 | 76,512 | ||||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31/SPL! f |
31/8/22 f |
||||
| Trade creditors | 39,945 | 19,851 | |||
| Taxation and social security | 8,892 | 3,266 | |||
| Other creditors | 580,755 | 826,673 | |||
| 629,592 |
| 12. | LOANS | ||||||
|---|---|---|---|---|---|---|---|
| An analysis ofthe maturiiy ofloans is given below: | |||||||
| 31/SI23 | 31I8/22 | ||||||
| E | |||||||
| Amounts falling |
due within one year on demand: | ||||||
| Other loans | 399,000 | 661,602 | |||||
| 13. | MOVEMENT | IN FUNDS | |||||
| Net | |||||||
| movement | |||||||
| At 1.SZ2 E |
in funds E |
31.8.23 f |
|||||
| Unrestricted | funds | ||||||
| General fund | 1,402,015 | 165,113 | 1,567,128 | ||||
| Restricted funds | |||||||
| Zakat | 53,300 | (29,650) | 23,650 | ||||
| TOTALFUNDS | 1,455,315 | 135,463 | 1,590,778 | ||||
| Net movement | in funds, included | in the above are as follows: | |||||
| Incoming | Resources | Movement | |||||
| resources | expended | in funds | |||||
| E | E | E | |||||
| Unrestricted | funds | ||||||
| General fund | 886,111 | (720,998) | 165,113 | ||||
| Restricted funds | |||||||
| Zakat | 15,640 | (45,290) | (29,650) | ||||
| TOTAL FUNDS | 901,751 | (766,288) | 135,463 | ||||
| Comparatives | for movement | in | funds | ||||
| Net | |||||||
| movement | At | ||||||
| At1.9.21 E |
in funds f |
31.$.22 E |
|||||
| Unrestricted | funds | ||||||
| General fund | 1,194,092 | 207,923 | 1,402,015 | ||||
| Restricted funds | |||||||
| Zakat | 53,300 | 53,300 | |||||
| TOTALFUNDS | 1,194,092 | 261,223 | 1,455,315 |
| Comparative | net movement in funds, ind |
uded in the above are as follows: |
||
|---|---|---|---|---|
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| K | ||||
| Unrestricted | funds | |||
| General fund | 873,358 | (665,435) | 207,923 | |
| Restricted funds | ||||
| Zak I | 59,260 | (5,960) | 53,300 | |
| TOTAL FUNDS | 932,618 | (671,395) | 261,223 |
| A current yea | r 12months and prior year | 12months combined position isa |
s follows: | |
|---|---|---|---|---|
| Net | ||||
| At1.9' | movement in funds |
31.8.23 | ||
| K | E | E | ||
| Unrestricted | funds | |||
| General fund | 1,194,092 | 373,036 | 1,567,128 | |
| Restricted funds | ||||
| Zakat | 23,650 | 23,650 | ||
| TOTAL FUNDS | 1,194,092 | 396,686 | 1,590,778 |
| A current yea above are as |
r 12 months and prior yea follows: |
r 12months combined net move |
ment in funds, |
included in |
|---|---|---|---|---|
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| E | E | |||
| Unrestricted | funds | |||
| General fund | 1,759,469 | (1,386,433) | 373,036 | |
| Restricted funds | ||||
| Zakat | 74,900 | (51,250) | 23,650 | |
| TOTAL FUNDS | 1,834,369 | (1,437,683) | 396,686 |